Sony has announced it has cut its PlayStation 3 sales target for the year to March 2008 to 9.5 million units from their predicted figure of 11 million.

This climb-down on the sales figures is in strong contrast to their stance at the Tokyo Games Show last September.

Sony Computer Entertainment president Kazuo Hirai said, in his keynote speech at the event, that he believed the company would achieve its predicted sales target of selling 11 million units before the end of the fiscal year in March.